Jim Langevin, the U.S. representative for Rhode Island’s 2nd congressional district since 2001, actively trades (buy and sell) in U.S.-listed stocks and options. A latest regulatory filing disclosed that Langevin traded these stocks in November: travel and accommodation provider Airbnb Inc. (NASDAQ:ABNB), crypto company Block Inc. (NYSE:SQ), delivery service provider DoorDash Inc. (NYSE:DASH), social media company Meta Platforms (NASDAQ:META), and his all-time favorite Generac Holdings (NYSE:GNRC), which produces backup power generation solutions. Let’s take a closer look at two of the Congressman’s recent trades.
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Airbnb Inc. (NASDAQ:ABNB)
California-based Airbnb operates an online marketplace focused on short-term homestays and experiences. The company generates revenue from booking commissions and advertising. Amid the macroeconomic slowdown, ABNB stock has lost 45.1% so far this year.
Interestingly, Langevin bought and sold shares of Airbnb in November within three days. As per the filing, on November 4, the politician sold ABNB stock in the price range of $15,000 to $50,000, when the stock closed at $96.09. On November 7, Langevin bought shares in the same range, when the closing price was slightly lower at $95.46.
Is Airbnb a Buy, Sell, or Hold?
On TipRanks, Airbnb stock has a Moderate Buy consensus rating. This is based on 12 Buys, 11 Holds, and two Sell ratings. Also, the average Airbnb price target of $128.36 implies 35.4% upside potential to current levels.
Meta Platforms (NASDAQ:META)
Meta Platforms, popularly known for its family of apps – Facebook, Instagram, and WhatsApp has seen its stock shrink by 65.9% so far this year. The company also boasts a budding metaverse unit and hopes to win the first mover’s advantage in the virtual reality space.
Surprisingly, Langevin sold META stock in three tranches in November. On November 1, he sold two sets of the stock, both in the smaller price range of $1,000 to $15,000, when the closing price was $95.20. Similarly, on November 14, the politician sold a bigger tranche of his META stock in the range of $100,000 to $250,000, when the closing price was even higher at $114.22.
Is META a Buy, Sell, or Hold?
On TipRanks, META stock has a Moderate Buy consensus rating based on 26 Buys, nine Holds, and three Sells. The average Meta Platforms stock prediction of $147.24 implies 27.7% upside potential to current levels.
Ending Thoughts
Representative Langevin trades actively in stocks and options, and investors may choose to follow his stock picks to make informed investment decisions. The politician’s large trades in Meta Platforms and Airbnb display his belief in the stock market to earn reasonable returns despite the uncertain macro backdrop. Although politicians’ trades are disclosed fairly late, tracking their trading activities may prove insightful for investors.
